‘Should I pay a fee to recover $14K in lost assets?’

admin — Thu, 01 Jan 1970 00:00:00 +0000

Question: My wife was contacted by a firm called Keane Tracers that told her my mother-in-law, who passed away in 2001, has a mutual fund worth $14,000. For 25% of that amount, Keane will do the paperwork to get us the money; for 15% it will tell us where the money is so we can recover it ourselves. Then the company sent us a contract quoting 35% for full recovery and 25% to do it ourselves. Either way, the fees seem high. What should we do? - Robert Chaplow, Chester, Va.
Answer: It’s true that more than $33 billion in unclaimed assets are floating around in forgotten bank accounts, old 401(k)s and dormant brokerage accounts. But scammers frequently make bogus inheritance claims, offering to “recover” nonexistent assets for an up-front fee. Once you pay, the con skedaddles. So never respond to an offer like this before checking it out with the [...]

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‘Should I pay a fee to recover $14K in lost assets?’